Block 61 Holds 100-150 TCF Gas

Oman hopes to have an agreement signed and sealed with energy giant BP on the commercial development of its Block 61 tight gas reserves before the end of this year.

A top official confirmed to the Observer here yesterday that a provisional deal, termed as a ‘Heads of Agreement’, has been inked by the two sides, setting out the broad terms upon which a final agreement is now being pursued.
“We have already signed the Heads of Agreement,” Nasser bin Khamis al Jashmi, Oil and Gas Ministry Under-Secretary, said.

A commercial agreement with BP will help unlock the prodigious potential of the Khazzan-Makarem field in Block 61, estimated at 100-150 trillion cubic feet (TCF) of gas in place. This bonanza in much-needed feedstock for Oman’s burgeoning electricity and water sector, as well as its rapidly expanding petrochemicals industry, is trapped in tight rock at depths ranging from 4,500–5,000 metres below ground.